April 2 (Reuters) - Siemens AG said on Wednesday it will acquire U.S.-based

Dotmatics for $5.1 billion from private equity firm Insight Partners to strengthen its Life

Sciences portfolio.

Financing for the deal would be primarily carried by share sales of listed companies,

including healthcare subsidiary Siemens Healthineers, its finance chief Ralf Thomas

said in a statement.

Life Sciences presents a software market opportunity and could expand Siemens' industrial

software total addressable market by $11 billion, the statement added.

Last week, the German company closed its second biggest acquisition of engineering software

firm Altair for $10.6 billion after selling a $1.5 billion stake in Siemens Healthineers.

"By acquiring Dotmatics, we're strategically strengthening our position in Life Sciences and

creating a world-leading AI-powered PLM software portfolio as part of Siemens Xcelerator," CEO

Roland Busch said.

Siemens said it expects substantial revenue synergies for medium-term revenue of around $100

million per year, accelerating to over $500 million per year in the long term.

Boston, Massachusetts-based Dotmatics is an R&D scientific software company, which is

expected to generate more than $300 million in revenue in 2025, with an adjusted EBITDA margin

of above 40%.